On Friday, Statistics Sweden published a report showing that as the cost of electricity and food in Sweden has skyrocketed, inflation in the nation has hit a more than thirty year high, rising to double digits.

Adjusted for fixed interest rates, as is the standard measure for the country’s central bank, Swedish inflation rose 10.2% year over year in December, up from November’s 9.5%. The figures exceeded the projections of 9.1% by Riksbank, and 9.8% projected by economists.

Although many countries in the eurozone have seen inflation abate as the gas crisis has waned, inflation in Sweden still appears to be accelerating, as it has now hit the highest level since 1991.

In November, the consumer price index (CPI) rose to 12.3%, compared with 11.5% in November. Record high electricity prices, which rose 28% in December over the previous month, and 45.3% over the previous year, were seen as the primary driver of the CPI increase.

Johan Lof, senior economist at Svenska Handelsbanken AB said, “The fact that inflation excluding energy prices again surprises on the upside of the Riksbank’s forecasts gives the overall impression that little progress to curb inflation has been achieved so far.”

Year over year, food and non-alcoholic beverages rose in price by 18.2%. Furnishings and household goods were up by 16.3%. In monthly terms, consumer prices were up 2.1% month over month, which marked the biggest rise since January of 1993.

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